Legal expenses insurance provides financial protection for the costs associated with a legal dispute. A policy will cover you for such things as the cost of legal advice, court or tribunal representation, and witness or expert expenses.
Isn’t this the same as liability cover?
Not exactly. Liability insurance is designed to provide compensation to other people or organisations that experience losses due to your actions – such as negligence or wrongful advice. Legal protection insurance covers your own interests and property in legal disputes.
Who needs legal expenses insurance?
This type of insurance provides cover in case of disputes relating to contracts, tax investigations, compliance, employment and other similar matters.
An example might be where you end a contract early due to unsatisfactory work and the contractor sues your business. Or where an employee brings a lawsuit because they claim you overlooked them for promotion due to discrimination.
Contact your broker
If you would like to discuss a legal expenses policy, get in touch with your nearest Reliance Partner.